DIB 30 AUG 2024

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BTC Daily Intelligence Bulletin (DIB)
Block: 858,081
DTG/ICOD: 1200Z 30Aug24
Precedence: Routine (RR)
Controls: Public Release
QQQQ

BLUF: Houthis Blow Up Oil Tanker / Russia Nervous Over Durov’s Arrest / US Sec Advisor Meets With Xi / Trump Still Battling Lawfare / CO Councilmember Confirms Gangs in Aurora / Custodia Bank Under Fire / Russia to Begin Crypto Cross-Border Payments / Musk’s Battle With Brazil Intensifies / Bitcoin Exchange Reserves Low / Bitcoin Millionaires Up / Solo Miner Hits Jackpot

Market Data: Price: 1 BTC= $59,470, 24.85 oz Gold, .14 Median US House
24hr Hi: $61,184 / Lo: $58,707
Vol: $32B (Down 6%)
Mkt Cap: $1.17T (Down 1%)
HashRate: 586 EH/s
Avg Fee Rate: 4 sats/vBtye (Down 20%)
Nodes: 19,356

—Reports—
-International Events-

  1. Houthi video shows the Yemeni rebels planted bombs on tanker now threatening Red Sea oil spill: Yemen’s Houthi rebels released footage on Thursday showing their fighters boarded and placed explosives on a Greek-flagged tanker, setting off blasts that put the Red Sea at risk of a major oil spill. The vessel was abandoned earlier, after the Houthis repeatedly attacked it. The Houthis have targeted more than 80 vessels with missiles and drones since the war in Gaza started in October. They seized one vessel and sank two in the campaign that also killed four sailors. Other missiles and drones have either been intercepted by a U.S.-led coalition in the Red Sea or failed to reach their targets. (AP)
  2. Russia’s Military Fears for Its Secrets After Telegram Founder’s Arrest: Russian authorities have reacted with unusual fury to the arrest of Telegram founder Pavel Durov by French authorities. Telegram is more than a mere social-media app to Moscow. Russian soldiers and spies depend on it for battlefield communications, including the guidance of artillery, the coordination of movements and intelligence gathering. Both the Russian and the Ukrainian militaries started relying on commercial platforms. While the Ukrainians prefer Western providers such as Signal or Discord, the Russians chose Telegram because it is based in the United Arab Emirates, which maintains good relations with Moscow. They think the app is more impervious to Western signals intelligence. (WSJ)
  3. ‘Vigorous give and take’: U.S. security advisor discusses economic curbs in rare trip to China: U.S. national security advisor Jake Sullivan said he raised concerns about the country’s focus on economic security in meetings with Chinese President Xi Jinping and other officials this week. Sullivan, advisor to the outgoing Biden administration, said his trip to China was part of an effort to manage the bilateral relationship ahead of the inauguration of a new U.S. president in January. Tensions between the world’s two largest economies have escalated in recent years, spilling over from trade into finance and technology. (CNBC)

-US Events-

  1. Trump seeks to move his New York state criminal case to federal court and delay sentencing: Donald Trump has filed a petition seeking to move his New York state criminal case to a federal court in Manhattan and push off the upcoming sentencing for his conviction on 34 counts of falsifying business records. (CNN)
  2. Colorado City Council Member Says ‘Denver Is the Problem’ as Migrant Gangs Occupy Housing: Aurora City Council Member Danielle Jurinsky is bringing national attention to the migrant gangs that are being welcomed by the Biden-Harris administration and their Denver Democrat allies. The councilwoman has been shining a light on rising crime in Aurora that appears to be caused by members of the dangerous Tren de Aragua, a Venezuelan street gang that has flooded the community after being cast out of the nearby sanctuary city of Denver. Because of all this, the council member says that many long-time residents are talking about leaving Aurora. (Breitbart)

-Regulatory and Legal-

  1. WazirX Sets Aside Funds for Legal Costs Following July Cyberattack: WazirX, the Indian exchange that suffered a cyberattack in July resulting in the theft of hundreds of millions of dollars in crypto, has set aside millions of dollars to cover legal costs. The holding company of WazirX has filed an affidavit requesting a 30-day moratorium to stabilize the platform and prevent further legal disruptions. The exchange has suspended withdrawals and is working to restore user funds. (Decrypt)
  2. Biden’s Crypto Crackdown Hits Custodia Bank: Workforce Reductions Announced: In response to the Biden administration’s intensified scrutiny on the crypto industry, Custodia Bank, a notable Wyoming-based financial institution catering to crypto businesses, has recently undergone a significant restructuring. Custodia Bank has made the decision to lay off nine of its 36 employees, a move aimed at conserving capital amidst mounting legal battles with the Federal Reserve (Fed). (Bitcoinist)

-Central Bank Digital Currencies-

  1. Russia to Trial Cross-Border Crypto Payments Starting Next Week: Russia will begin trialing cross-border crypto payments next week in an effort to circumvent international sanctions. The legislation allows for cross-border payments with crypto, but the rules for such transactions are unclear. The central bank will oversee an “experimental” regime to determine how these payments will be conducted. (Decrypt)

-Institutional Concerns-

  1. BlackRock’s IBIT logs first daily net outflows since May amid streak of spot bitcoin ETF outflows: U.S. spot bitcoin exchange-traded funds recorded $71.73 million in net outflows on Thursday, extending their outflow streak to three days. BlackRock’s IBIT, the largest spot bitcoin ETF by net assets, reported its first negative flows since May 1, with $13.51 million in net outflows (TheBlock)

-Economic Indicators-

  1. US GDP Growth Revised Higher: Real gross domestic product (GDP) in the US grew at an annual rate of 3.0% in the second quarter of 2024, up from 2.8% in the initial estimate and 1.4% in the first quarter. The upward revision was mainly due to increased consumer spending (2.9% vs 2.3% earlier reported). (TradingEconomics)

-Security Incidents and Concerns-

  1. Halliburton cyberattack linked to RansomHub ransomware gang: The attack caused widespread disruption, and customers couldn’t generate invoices or purchase orders because the required systems were down. (BleepingComputer)

-Technology and Science-

  1. Starlink’s local bank accounts are frozen as X prepares to be shut down in Brazil: A judge in Brazil has blocked Starlink’s bank accounts in the country amid a deepening dispute with X. X owner Elon Musk has been feuding with Brazil Supreme Court judge Alexandre de Moraes for months over demands to block certain accounts in the country. The company closed down its operations in Brazil earlier this month as a result of the court orders. Now, Moraes is apparently attempting to use one of Musk’s other companies, SpaceX-owned Starlink, in an attempt to get X to comply with the court order. (Engadget)

-Bitcoin Community-

  1. Bitcoin exchange reserves reach new yearly low amid $60K price retest: According to CryptoQuant data, Bitcoin reserves on exchanges have decreased by approximately 12.9% since Jan. 1, leaving 2.62 million Bitcoin across all major crypto exchanges. “The supply shock will come soon because this is not sustainable,” pseudonymous crypto commentator Bitcoin for Freedom told their 74,800 X followers, noting that the last seven days have seen 56,000 Bitcoin moved off crypto exchanges since Aug. 22. (CoinTelegraph)
  2. Bitcoin Millionaires up by 111%, Crypto Users Reach 560 Million: A new report reveals a significant increase in wealthy crypto asset holders, with bitcoin (BTC) millionaires rising 111% to 85,400 and individuals with crypto assets worth $1 million increasing 95% to 172,300. Dominic Volek of Henley & Partners attributes this surge to the introduction of crypto exchange-traded funds (ETFs) and a BTC rally surpassing $70,000. The report also shows a 32% increase in crypto users to 560 million and a 31% rise in BTC users to 275 million.(BitcoinCom)
  3. Solo Bitcoin miner earns $200,000 (3.275 BTC) reward amid growing centralization concerns: Blockchain data confirms that the miner successfully mined block number 858,978 on the Bitcoin blockchain yesterday, which included 2,391 transactions. (CryptoSlate)

-Bitcoin Sentiment-

  1. Fear(0)/Greed(100) Index: 34/100 (Up 5 pts)

Analyst Comments (AC): Running your own miner and node are ‘freedom tech’ moves. Consider mining Bitcoin as you just might win the reward as the article above reveals.

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Analyst: BV2A
END REPORT
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*NSTR-Nothing Significant To Report

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